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CDH Investments Backs Wacai.com and Gewara.com (Asia)
International alternative asset fund manager CDH Investments has participated in a US$3 million funding round in China-based financial management application Wacai.com. The company, which recently acquired retail finance consulting firm Trust Analytics, has developed two mobile apps reportedly used by more than 40 million people to manage daily spending. Last month, the company received a Series A funding round worth… Read More
Danone to Join The Abraaj Group in the Acquisition of Fan Milk International (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has announced a partnership agreement whereby French food-products corporation Danone will join in the acquisition of Fan Milk International (FMI), a manufacturer and distributor of frozen dairy products and juices in West Africa. The Abraaj Group and Danone will respectively acquire a 51 percent and 49 percent stake in FMI, which intends to… Read More
Amethis Finance to Inject Fresh Capital in UT Bank Operations (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has agreed to provide a US$10 million subordinated loan to Ghana-listed banking institution UT Bank. UT Bank intends to use the capital injection to grow its lending to the SME sector and extend the tenure of its loans. The transaction is subject to approval from… Read More
Innova Capital Acquires Wirtualna Polska for PLN375 Million (CEE and CIS)
Central Europe-focused mid-market private equity firm Innova Capital, through its special purpose vehicle European Media Holding, will finance the acquisition of Poland-based internet portal Wirtualna Polska from Polish Orange subsidiary Telekomunikacja Polska. The transaction, which was reportedly structured through Innova/5, is valued at PLN375 million (approximately US$123.2 million). As part of the deal, Wirtualna Polska will merge with Poland-based internet… Read More
Tata Capital Funds Invest in Three Indian Companies (Asia)
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in three separate India-based companies: television services operator Tata Sky, financial products and services distributor IFMR Rural Channels and Services (IRCS) and personalized cancer care and rational drug developer Mitra Biotech. In the largest of the three deals, Tata Opportunities Fund picked up a five percent… Read More
Helios to Invest US$100 Million in Global Credit Provider Bayport Management (Sub-Saharan Africa)
Pan-African private equity firm Helios Investment Partners will invest US$100 million in Mauritius-listed Bayport Management (BML), provider of unsecured credit and other financial solutions in Africa and Latin America. BML will use the funding to partially finance its acquisition of Bayport Financial Services South Africa (BFS) from financial services group Transaction Capital for an enterprise value of ZAR1.6 billion (approximately… Read More
IL&FS Sells Stakes in Jyothy Fabricare and Gujarat Pipavav Port (Asia)
India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) is selling its stake in India-based laundry business Jyothy Fabricare Services. Jyothy’s board has approved the acquisition of 3.3 million Compulsorily Convertible Cumulative Participatory Preference Shares (CCCPPS) at INR10 (approximately US$0.16) each and 50,000 equity shares from the private equity firm. IIML originally invested INR1 billion (approximately US$21 million) at… Read More
Vinci Partners and P2 Brasil to Buy CBO and Estaleiro Aliança (Latin America)
Brazil-focused alternative investment and asset management firm Vinci Partners and P2 Brasil, a partnership of Pátria Investimentos and Promon, have signed a deal to buy Brazil-based offshore shipping company Companhia Brasileira de Offshore (CBO) and shipyard Estaleiro Aliança, both previously controlled by Fischer group, a multinational Brazilian company involved in the logistical operation of support vessels to maritime petroleum platforms.… Read More
Actis Invests US$48 Million in Symbiotec Pharmalab (Asia)
Pan-emerging markets private equity firm Actis has announced a US$48 million investment for a significant stake in India-based Symbiotec Pharmalab, producer of steroid-hormone active pharmaceutical ingredients. Symbiotec, which produces active ingredients for medicine manufacturers, intends to use the new financing for company growth. Read More
Baring Vostok-Backed Tinkoff Credit Systems Raises US$1.1 Billion in London IPO (CEE and CIS)
Russia-based credit card company Tinkoff Credit Systems (TCS), backed by Russia and CIS-focused private equity firm Baring Vostok, has raised US$1.1 billion in an oversubscribed London initial public offering. The final pricing gave the company a valuation of US$3.2 billion. As part of its IPO, TCS raised US$175 million of new capital, while existing shareholders, including Russian entrepreneur and founder… Read More
MSPEA-Backed Hyundai Rotem Raises US$585 Million in IPO (Asia)
South Korea-based train manufacturer Hyundai Rotem, which is backed by Asia Pacific private equity investor Morgan Stanley Private Equity Asia (MSPEA), has raised KRW622.4 billion (approximately US$584.4 million) in an initial public offering on the Korea Exchange. The offering of 27.1 million shares, including six million shares owned by MSPEA, was priced at KRW23,000 (approximately US$21.60) per share. MSPEA, which… Read More
The Abraaj Group Backs Ghanaian Mortgage Finance Provider Ghana Home Loans
Global growth markets investor The Abraaj Group has acquired a majority stake in Ghana Home Loans, provider of residential mortgages in Ghana. The company intends to use the new financing to scale and consolidate the business’ market position, increase operational efficiency and broaden its portfolio. Financial details of the transaction were not disclosed. Read More